Economic Speed
That speed of a means of transport which produces the best possible financial result for the owner. Such speed should not be in excess of the maximum or minimum output allowed for the engine(s).

Economy of Scale
Phenomenon which encourages the production of larger volumes of a commodity to reduce its unit cost by distributing fixed costs over a greater quantity.

Eight Freedoms (Air)
Freedom 1: The right to fly and carry traffic over the territory of the grantor state.
Freedom 2: The right to fly and carry traffic over the grantor state and to make one or more stops for non-traffic purposes (e.g. refueling).
Freedom 3: The right to fly into the territory of the grantor state and set down traffic from the state of the carrier.
Freedom 4: The right to fly into the territory of the grantor state and take on traffic for the state of the carrier.
Freedom 5: The right to fly into the territory of the grantor state and take on or set down traffic to or from third states.
Freedom 6: The right to fly into the territory of the grantor state and take on or set down traffic for the carrier's state. Such traffic being carried to a third state on a different service.
Freedom 7: The right for a flag-carrier operating entirely outside the territory of this own state to take on or set down traffic in the grantor state for carriage to or from a third state.
Freedom 8: The right of a carrier of another state to take (cabotage) on or set down traffic from one point in the territory of the grantor state to another point within the same state. Five Freedoms (Air)

Electronic Data Interchange
Abbreviation: EDI. Transfer of structured data, by agreed standards from applications on the computer of one party to the applications on the computer of another party by electronic means.

Electronic Data Interchange for Administration, Commerce and Transport
Abbreviation: EDIFACT. ISO application level syntax rules for the structuring of user data and of the associated service data in the interchange of messages in an open environment.

Elevator
Equipment used to discharge some bulk cargoes such as grain which is removed from the hold by a continuous line of buckets or by suction and carried on a conveyor belt to store.

Eligible Acceptance
Draft which meets requirements for discounting at a Federal Reserve Bank.

Embargo
1. A government order prohibiting the entry or departure of commercial vessels or goods at its ports. 2. The refusal by a carrier, for a limited period, to accept for transport over any route or segment thereof, and to or from any area or point, of a connecting carrier, any commodity, type of class of cargo duly tendered.

Endorsement
Transfer of the right to obtain delivery of the goods of the carrier by means of the consignee's signature on the reverse side of a Bill of Lading. If the name of the new consignee (transferee) is not stated, the endorsement is an open one which means that every holder of the document is entitled to obtain delivery of the goods. Negotiable

Enhanced Remote Transit Shed
Abbreviation: ERTS. Term used in the UK: Warehouse where agents can transfer incoming groupage/consolidations for customs clearance purposes.

Equipment Damage Report
Abbreviation: EDR. Written statement concerning damage to equipment, based on a physical inspection.